29 November 2006
Only 22% of people in Britain say saving for a pension is one of
their top financial priorities, according to research by Alliance
Trust Savings Limited.
Figures from Alliance Trust Savings show that consumers'
financial priorities change during their lifetime and that saving
for a pension fund is not always the biggest priority.
People in their 20s are most preoccupied with savings as much as
they can, either to buy a home (30%) or for specific purchases
(32%). 17% also start to put money aside for their pension.
Between the ages of 30 and 50, consumers are most concerned with
paying off their mortgage (54%) and more people consider saving for
their pension (27%) as a top financial priority.
Once over the age of 50, Brits focus on saving for their
retirement (19%), protecting themselves against ill health (13%)
and planning their inheritance (14%).
